HDFC ERGO GIC implements pilot WBCIS in Maharashtra

MUMBAI: HDFC ERGO has implemented a pilot weather-based crop insurance scheme for March-May crop harvest, on getting permission from Maharashtra government.

The horticultural crops to be covered under the insurance scheme are orange in Akola and Buldhana, sweet orange in Buldhana, Beed, Aurangabad and Parbhani and guava in Buldhana and Aurangabad districts of Maharashtra, HDFC ERGO said in a release issued here.

The insurance covers losses of farmers due to aberrant weather conditions during the crop cycle. Claim amounts will be settled on the basis of data taken from reference weather stations mentioned in the scheme and managed by independent third party organisation.

HDFC ERGO General Insurance Company is a 74:26 joint venture between HDFC and ERGO International AG, the primary insurance entity of Munich Re Group.